Open innovation challenges for pharma companies. Discussion with Novartis, Bayer, PromoPharma and Asabys Partners
In the near future, we will face the global challenges of a growing and unsustainable medical spending and non-universal access to healthcare. On this regard, we discussed with our participants the necessary evolution of the pharmaceutical sector in order to provide an answer.
Innovation was one of the most repeated words, with a comprehensive approach centered on three points: necessary transformation of large corporations, partnerships and regulatory developments. What for? For maximizing the benefits for the population and face the challenges that arise. Something key when talking about human life.
Large pharmaceutical companies have to change inside in order to be able to give answers to the outside. They have to get out of their comfort zone to interact efficiently with the ecosystem and maximize their contribution. Pharmas should not continue focusing on creating the product but necessarily driving towards prevention and early diagnosis to empower the patient.
In addition, we must evolve towards a greater cooperation of all industry players. In reality, they should “coopete”, which means first cooperate and then compete by taking advantage of synergies so that the best solution prevails. They should get out of a model in which each player pursues to maximize their own benefit. Large companies should stop to work alone and partner with those who are more innovative and dynamic. Instead, they should search where the innovation is, look at startups, look at venture capital as partners for validating concepts and proposals. They should cooperate based their trust and commitment to startups.
Needless to say, the environment needs to be more agile as well. The four participants agreed that we are still immersed in a pre-digital regulatory context in which, in addition to more or less global regulations, each country sets his own. In the interest of obtaining the maximum benefit to the patient, we are currently causing him the biggest pain. If we need more efficient and therefore more digitized healthcare systems, it is necessary to leverage the existing regulations as Germany is doing.
An interesting discussion within the framework of the #TechSpiritBarcelona conference that you can watch entirety in the following video. Participants: Orlando Vergara (Novartis), Marc Ferré (Bayer) and David Masó (PromoFarma). Moderated by Josep Ll. Sanfeliu (Asabys Partners).
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